India plans to offer cash subsidies, lower taxes and other incentives to bolster its shipbuilding industry, two government sources said, as part of an effort to reduce the pain of high freight rates for the nation’s manufacturers. The plans include subsidies so that at least 50 new vessels can be built, as well as granting “infrastructure status” to the industry which would help with financing from banks, said the government officials. This could also include incentives to build small vessels and promote battery-driven small vessels, aiming to cut diesel consumption ...

GTT announces that it has received two orders from its partner the Korean shipyard Samsung Heavy Industries for the tank design of seven new Liquefied Natural Gas Carriers, on behalf of a European shipowner and an American shipowner. GTT will design the tanks of these seven vessels, which will each offer a capacity of 174,000 m3. The tanks will be fitted with the Mark III Flex membrane containment system developed by GTT. The delivery of the vessels is scheduled between the first quarter of 2026 and the fourth quarter of ...

Korea Shipbuilding & Offshore Engineering (KSOE), the holding company of the world’s top shipbuilder Hyundai Heavy Industries Group, said on Thursday that it has won a 399.9 billion won ($308 million) order to build two very large ethane carriers (VLECs) for an undisclosed Asian shipper. Hyundai Heavy Industries will build the vessels in its shipyard in Ulsan, a coastal city in South Gyeongsang Province, and deliver them by the first half of 2026. With the new order, KSOE has so far won orders for 190 vessels worth $22.82 billion, far ...

South Korean shipbuilder Hyundai Heavy Industries will showcase its vision for a sustainable maritime future at the Consumer Electronics Show 2023, the firm said. CES, the world’s largest technology exhibition, is held in Las Vegas during the first week of January each year. This will be the shipbuilder’s second time taking part in the event. In this year’s exhibition, Hyundai Heavy Industries said it will exhibit its future maritime strategy with a focus on “Ocean Transformation,” which seeks to fundamentally change the way humans use the ocean. The Hyundai Heavy ...

At the annual Damen Maritime Festival held in Gorinchem at Damen’s headquarters, offshore services provider High Speed Transfers (HST) Marine and Damen Shipyards announced that a contract has been signed for the supply of three new Fast Crew Suppliers 2710s. The three vessels will be fitted with 190kW battery arrays that will enable them to operate emissions-free both when in harbour and when loitering offshore awaiting the retrieval of their technicians. In zero-emission mode, the vessels will be propelled by an electrical motor that is connected via the gearbox (PTI) ...

Unionized workers at the three shipbuilders of Hyundai Heavy Industries Group (Hyundai Heavy Industries, Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard) declared a strike on Nov. 30. According to them, four- and seven-hour strikes at the three companies are scheduled for Dec. 6 and 7 before an indefinite general strike to start on Dec. 13. This is the first joint strike of the three. The employers recently proposed a base pay increase of 80,000 won and a bonus of three million won for next year, and then the unions ...

Daewoo Shipbuilding & Marine Engineering (DSME) is working to remove potential risk factors ahead of the main acquisition contract with Hanwha Group. The shipbuilder has recently notified Sovcomflot, a Russian shipping company, of the final termination of a supply contract for one liquefied natural gas (LNG) carrier as the client failed to pay for the vessel construction within the payment deadline. DSME received an order for three icebreaking LNG carriers worth US$850 million from Sovcomflot, but notified the Russian client in May and June of the termination of the contracts ...

At the Offshore Energy Exhibition & Conference 2022 Kommer Damen, Chairman of Damen Shipyards Group, and Arjan van Stee of Van Stee Offshore have signed a contract for the delivery next year of an 80-metre Multibuster 8020 ultra-shallow draught, multi-purpose workboat. Van Stee’s Multibuster 8020 is the first of a new class that combines the key elements of Damen’s highly successful Multi-Cat and Shoalbuster workboat classes to create a large-scale platform capable of undertaking a wide variety of projects in waters as shallow as three metres. The vessel is the ...

Deltamarin Ltd has signed an agreement that names Texas-based GEM Marine LLC as its representative in the United States. Both companies are committed to decarbonizing the shipping and offshore energy sectors, and the cooperation maximizes the strengths of both. Both Deltamarin and GEM Marine have been developing solutions that reduce the carbon footprint of shipping operations, which simultaneously increase safety and efficiency. Together, they are seeking opportunities to promote their expertise to serve the current and future needs of the maritime transport sector in inland waterways, coastal or short sea ...

The Russian shipbuilding industry is seeking to hire skilled manpower from Bangladesh for the first time in history. The move comes after the world’s largest country is reportedly having difficulties in sourcing foreign parts and equipment for civilian vessels amid the war with Ukraine and President Vladimir Putin hinted at strengthening the country’s shipbuilding industry. A number of interested Russian companies have already contacted Bangladesh Overseas Employment and Services Limited (BOESL) in this regard. Some 100 workers with high efficiency and experience in shipbuilding have been sought initially by multiple ...

Dassault Systèmes announced the signature of a Memorandum of Understanding with Samsung Heavy Industries, a global leader in the high-tech shipbuilding sector, to create a “smart yard” based on new digital transformation technology with the aim to establish a fully digital shipyard and a competitive edge. The smart yard is designed to optimize the shipyard operations’ scheduling and execution as well as streamline and automate the flow of information required for construction, to accelerate production and assembly operations. Samsung Heavy Industries can better meet the booming demand for liquefied natural ...

Losses at South Korean companies are increasing as sanctions against Russia after its invasion attempt of Ukraine prolongs with shipbuilders having to cancel ship orders because Russian customers failed to make payments. Daewoo Shipbuilding & Marine Engineering Co. last week terminated an order from Russian shipping company Sovcomflot to build a liquefied natural gas carrier. The Russian company signed a contract worth $850 million in 2020 for the South Korean shipbuilder to build three ice-breaking LNG carriers and the two ships were canceled in May and June. With the latest ...

The management of Hyundai Heavy Industries Co. has offered new wage and collective bargaining proposals, which included an 80,000 won increase in the basic wage, the hiring of retirees, and the expansion of welfare benefits, but its labor union rejected them. The management of Hyundai Heavy Industries offered to raise the basic monthly salary by 80,000 won and pay 3 million won in incentives at the 33rd round of collective bargaining negotiations on Nov. 25. In addition, it also proposed the expansion of fixed-term employment of retired production technicians, up ...

On 28 November, Arnout Damen of Damen Shipyards, Derrick York of Caterpillar Inc and Kees-Jan Mes of Pon Power signed a Memorandum of Understanding (MoU) for the joint development of a series of dual-fuel methanol / diesel powered tugs. This follows Damen’s recent delivery of its first, all-electric RSD-E Tug 2513, Sparky, to Ports of Auckland, New Zealand, continuing its commitment to becoming the world’s most sustainable shipbuilder. Damen’s long-term strategy to achieve this includes offering a full range of sustainable tugboats featuring both zero emission electric and carbon neutral ...

Daewoo Shipbuilding & Marine Engineering (DSME) has notified the cancellation of the contracts on all three LNG carriers awarded by a Russian client two years ago. The Russian client failed to make payments for the ships on time, amid sanctions by the international community against Russia for the prolonged invasion of Ukraine. DSME announced on Nov. 25 that it had notified a Russian client of the termination of the contract for one LNG carrier, which was signed in October 2020. The value of the canceled contract was 337.9 billion won. ...